Tds deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 December 2013
Hi All,
I have a small query.
A Company has made a payment of Rs.20,000 to a contractor during June 2013 and TDS was not deducted on the same, as the payment did not exceed the threshold limit.
Later in the same year, during December 2013, the company has paid to the same party Rs.1,00,000 and for this payment TDS was deducted.
In December 2013, should TDS be deducted for Rs.1,00,000 or for Rs.1,20,000 (including the previous payment)
Please state the provisions if any
I have a small query.
A Company has made a payment of Rs.20,000 to a contractor during June 2013 and TDS was not deducted on the same, as the payment did not exceed the threshold limit.
Later in the same year, during December 2013, the company has paid to the same party Rs.1,00,000 and for this payment TDS was deducted.
In December 2013, should TDS be deducted for Rs.1,00,000 or for Rs.1,20,000 (including the previous payment)
Please state the provisions if any
31 December 2013
Tds will be Deduct on 1,20,000.
Message likes :
1 times
31 December 2013
as per section 194c if you cross threshold limit i.e. 30000 rs. of single payment or rs. 75000 agreegate payment during the year then you have deduct tds whole amount
in your case tds deduct on rs. 120000
in your case tds deduct on rs. 120000
Message likes :
1 times
31 December 2013
Agree with expert.
You have to calculate TDS on total amount paid/payable.
Thanks
You have to calculate TDS on total amount paid/payable.
Thanks
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- NRI starting business in India
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- Filling ITR - U
- Form 140 tds
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
